The belt debris is normal, as Mark says. S&S describe it as "snake skin" and it is the release agent from belt manufacture. There is also a cutout at the base of the cam cover that has been there since the start, probably to let the crank seal oil leakage out. I like the machined spacers on the later covers, I just super glue the washers in place to make things easier.
There does seem to have been a bad batch of belts about and they have shown signs of cracking after just a few thousand miles, well worth checking them regularly. In theory the belt life is 3 years or 30,000 miles (with the vented cover) but "on condition" seems sensible. It is a "safe" engine as the valves and pistons don't try and occupy the same space if the cam belt fails, always nice to know.
Is that right, Planenut? This is the first I have heard of a 3 year replacement advisory. I thought it was just by mileage. I better get mine replaced if that is true.
